“The global NPWT devices market is projected to grow at a CAGR of 6.1%.”
The global NPWT devices market is projected to reach USD 3.2 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 6.1%. Factors such as the rising prevalence of diabetes, government initiatives to prevent SSIs, increasing spending on chronic and surgical wounds, and the high rate of cesarean sections in elderly mothers are driving the growth of the NPWT devices market.
On the other hand, the high cost of the NPWT devices, low adoption rates, and the complications associated with the use of NPWT devices are expected to restrain the growth of this market during the forecast period.
“The Conventional NPWT devices segment accounted for the largest share of the NPWT devices market in 2019.”
Based on products, the NPWT devices market is segmented into conventional NPWT devices, disposable NPWT devices, and NPWT accessories. The conventional NPWT devices segment accounted for the largest share of the NPWT devices market in 2019. Better management of severe wound exudates by the portable conventional NPWT systems, reductions in the total disease bioburden, length of hospital stay, and the overall cost of treatment are the major factors driving the demand for NPWT devices.
“The home care settings segment dominates the global NPWT devices market during the forecast period”
Based on end-users, the NPWT devices market is segmented into hospitals, home care settings, and other end users. The home care settings segment accounted for the largest share of the NPWT devices market in 2019. The increasing sale of disposables and single-use consumables, rising healthcare costs, and an increase in the prevalence of age-related ailments are contributing to the large share of this segment.
“North America will continue to dominate the NPWT devices market during the forecast period.”
The global NPWT devices market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, LATAM, and the Middle East & Africa. North America accounted for the largest share of the global NPWT devices market in 2019. Factors such as increasing incidence of chronic wounds and diabetes, favorable reimbursement scenario, and the introduction of low-cost NPWT devices are driving the growth of the North American NPWT market.
Breakdown of supply-side primary interviews: by company type, designation, and region:
- By Company Type - Tier 1: 40%, Tier 2: 30%, and Tier 3: 30%
- By Designation - C-level: 27%, Director-level: 18%, and Others: 55%
- By Region - North America: 50%, Europe: 20%, APAC: 20%, and the RoW: 10%
Prominent players in the NPWT devices market include Acelity L.P. Inc. (US), Smith & Nephew (UK), M?lnlycke Healthcare AB (Sweden), ConvaTec Group Plc (UK), Cardinal Health (US), Paul Hartmann AG (Germany), DeRoyal (US), Lohmann & Rauscher International GmbH & Co KG. (Germany), Medela LLC (Switzerland), Genadyne Biotechnologies, Inc. (US), Triage Meditech Pvt. Ltd. (Delhi), Talley Group (UK), Alleva Medical Ltd. (China), Cork Medical (US), 4L Health Co. Ltd. (China), Carilex Medical GmbH (Germany), ChongQing Sunshine Medical Industry & Trading Co (China), Wuhan VSD Medical Science & Technology Co. Ltd. (China), Pensar Medical (US), and Haromed Bvba (Belgium).
This report studies the NPWT devices market based on product, wound type, end-user, and region. The report also analyzes factors (such as drivers, restraints, opportunities, challenges, and trends) affecting the market growth. It evaluates opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micro markets with respect to their growth trends, prospects, and contributions to the overall market. The report forecasts the revenue of the market segments with respect to five main regions.
Reasons To Buy the Report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on business strategies adopted by the major players in the NPWT devices market. The report analyzes the NPWT devices market based on product, wound type, end-user, and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and product launches in the NPWT devices market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various NPWT devices across geographies
- Market Diversification: Exhaustive information about new NPWT device types, untapped geographies, recent developments, and investments in this market
- Competitive Assessment: In-depth assessment of market ranking, strategies, and products of leading players in the NPWT devices market